Zijin to invest overseas

Published: 15 Oct 2009 10:02:01 PST

Zijin Mining Group, one of China's largest gold producers, has formally signified its interest to invest $1 billion in gold and copper exploration in the Philippines over the next five years, Malacanang said Thursday.

Malacanang said in a statement that Zijin Mining Group, through its chairman, Chen Jinghe, signed a Memorandum of Understanding with Environment Secretary Joselito Atienza at the latter's office Thursday.

Zijin has holding subsidiaries in 20 provinces in China and seven countries and has become China's largest owner of metal mineral resources, its largest gold producer, its third largest copper producer, and one of China's six major zinc producers.

Agencies/Global Times

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